Home sales continue to decline while prices rise

Southwest Michigan’s housing market sales in March 2024 plunged 14 percent compared to sales in March 2023, according to the Southwestern Michigan Association of Realtors. “Selling prices continue to rise to record levels for prices in March,” stated Alan Jeffries, association executive.

Jeffries continued, “The number of houses sold in March dropped to 202 from 236 in March 2023. The level of sales in March 2024 was the lowest since March 2014. The highest number of sales in March was 286 in 2020. At the end of the first quarter of 2024, house sales were down 6 percent compared to 2023 (510 vs. 545).”